Bulgaria receives €1 billion under the Recovery Plan: Where is the money going?

Bulgaria received 1 billion euros under the Recovery Plan

Bulgaria successfully absorbed 1 billion euros under the Recovery and Resilience Plan last week. The news was confirmed by Prime Minister Rumen Radev during a Council of Ministers meeting.

"We are not lying to our European partners and we are not making empty promises, but are looking for options for valuable reforms and projects while protecting Bulgarian interests," the Prime Minister stated.

Where will the funds be invested?

The secured funds will be directed towards key infrastructure and social projects, including:

• Construction of new kindergartens;
• Renovation of building stock;
• Expansion of the subway system;
• Purchase of specialized medical helicopters;
• Construction of battery energy storage systems.

Important reforms and renegotiations

The government reported success in the renegotiation of commitments for the fifth payment. One of the significant changes is the dropping of the planned introduction of a "water meter fee" in the water supply and sewerage sector. The cabinet's efforts are also aimed at maintaining funding under the Just Transition Plan, concerning the regions of Stara Zagora, Kyustendil, and Pernik.

The Prime Minister expressed optimism that the country will succeed in absorbing a large portion of the funds from the next payment, despite political attacks.